Have you ever looked at lead management and pipeline acceleration as CRM? Marketing statistics point out that 60% of leads have to be nurtured. This further reinforces what I’ve stated before that successful demand generation involves:
- Patiently pursuing a relationship with your prospects
- Developing their confidence in you
- Rolling out a smart and effective marketing plan to turn them into customers
In this struggling economy many businesses have learned the true meaning and value of pipeline acceleration the hard way. You can’t send your reps out into the ocean if they don’t know how to swim. It is the ‘how’ not just the ‘how much’ that will yield the results you’re looking for.
What is your organization’s pipeline acceleration strategy (you have one, right)? Do you have a well-conceived approach for rapid market entry, and last mile deals? Or are you just pushing numbers in front of sales/marketing without a proper process or strategy? Is there a defined leads tracking and scoring system in place? The reverse of the coin is, do you have a very complicated scoring model? Remember this is not a perfect world and sometimes less is more as long as you capture the key attributes of a lead (see my previous post on this topic). If yes for both, it’s time to rethink your pipeline acceleration method.
Let’s focus on rapid market entry which is what every marketer today is trying to accomplish. (Not to be confused with spike marketing!) Rapid-entry acceleration is most effective when it has a firm foundation to work on. Remember how our teachers told us that preparation was the key to straight A’s? Homework or pre-work is your magic potion. Proper ground work from your demand center, field marketing, telemarketing and teleprospecting teams ensures that leads are quickly accepted, pursued and worked on by your sales force.
- Unite sales and marketing into a cohesive team and make sure your tactics are well-defined before you deploy your crew.
- Rapid entry needs a well-laid out fast track which comes from prior planning (at least 60 to 90 days).
- Remember the hungrier the hunter, the more driven he/she is — so choose your team well.
- Track and measure results to ensure timely response and maximum effectiveness.
What are your thoughts on pipeline acceleration and rapid market entry? My next blog post will discuss the tactics, techniques and collaborative functions in pipeline acceleration. So I’d love to hear from you before that!
